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TMI Blog2018 (6) TMI 1390X X X X Extracts X X X X X X X X Extracts X X X X ..... sel for the assessee, Shri Vishal Kalra along with Ms. Reema Malik, broadly contended that the Ld. DRP has not specifically dealt with the issue for which our attention was invited to various pages of the paper book and the observation recorded in the impugned order. Our attention was further invited to the case of Apicto Ltd., Global Procurement Consultant Ltd., TSR Darashaw Ltd. and also the case of Trade Wings Ltd. Our attention was further invited to page 23 of the impugned order with respect to direction by the Ld. DRP along with page-50 and page 17 of the T.P. order. On the other hand, Shri H. K. Choudhary, Ld. CIT-DR, defended the impugned order and strongly contested the claim of the assessee. 2.1. We have considered the rival subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Ld. DRP, which lead to an adjustment of Rs. 1,23,10,368/-, which is contested before this Tribunal. 2.2. Before this Tribunal, the Ld. Counsel for the assessee, explained that the assessee provided following business support services to its AEs i.e. Exxon Mobil Qatar Inc, Esso Asutralia Pte. Limited, and ExonMobil Hong Kong Limited during the year, (for which our attention was invited to page 285 of the paper book for TP Study). a. Conducting market Surveys and providing market information; b. Assisting its associated enterprises to develop business strategies for India by providing general guidance on the India economy and market conditions; c. Facilitating communications among ExxonMobil Group Entities and/or affiliates, for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... panies as comparable to the assessee, resulting into mean margin of 28.95% (unadjusted):- i. Apitco Ltd. ii. Basiz Fund Services Pvt. Ltd. iii. IDC (India) (Cyber Media Research Ltd.) iv. Global Procurement Consultant Ltd. v. TSR Darashaw Pvt. Ltd. 2.4. Before this Tribunal, the claim of the assessee is that out of the proposed set of comparable companies, selected by the TPO, the Ld. DRP excluded Basiz Fund Service Pvt. Ltd., holding the same to be functionally different and the at the same time directed the Ld. TPO to grant working capital adjustment to the assessee. Pursuant to the direction of the ld. DRP, the final set of comparable companies and their margins as computed by the Ld. TPO/AO was as under:- Sr. No. Comparabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch is 78.68% of the total income from operations (i.e. Rs. 7,77,36,713/-). It was explained that as per the segmental information in the financial statement of Trade Wings Ltd. (page 61 of the paper book), total Revenue, from the Travel related Services was Rs. 10,26,59,762/-, which is 97.82% of the total income i.e. Rs. 10,49,47,599/- (page 46 of the paper book) of the company. The crux of the argument on behalf of the assessee is that since the income is much more than 75% of the income of the company, the ld. DRP/TPO were not justified in holding that the service income filter for this comparable company is not satisfied and thus Trade Wings Ltd. ought to be held as a valid comparable. 3.1. So far as, issue with respect to benefit of ri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... les without assigning any reason and the same were not considered by the Ld. DRP, where the financial data was available but the same was neither considered by Ld. TPO nor by the Ld. DRP. The totality of facts, clearly indicates that the factual matrix needs to be examined afresh at the level of the Ld. DRP. The DRP is at liberty to consider the cases relied upon by the assessee as well as other cases/comparable cases, which are relevant for adjudication for the issues in hand. The assessee is also at liberty to furnish necessary evidences, if any, in support of its claim. Thus, the appeal of the assessee on the issues in hand is remanded back to the file of the ld. DRP for fresh adjudication in accordance with law, as agreed by both sides. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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